
ByteDance, TikTok’s parent company, are giving its employees something to cheer about. In the face of growing international pressure, the company announced that it will give its 60,000-plus global workforce cash bonuses to thank them for overcoming “challenges posed by the Covid-19 pandemic and changing macro environment.”
Full-time employees who worked 26 or more days between July 1 and Aug. 31 will be eligible for a bonus worth half their August base salary, ByteDance said Tuesday in a letter to employees. It will be the first extra bonus paid by ByteDance in recent years, several employees told Caixin.
The bonuses will be paid out ahead of the company’s routine fall performance reviews, usually a period of high turnover, and may help retain employees considering leaving, some staff told Caixin. The company did not disclose how much it expects to pay out in bonuses or how much a regular worker might expect to receive.
ByteDance has not had any layoffs in the U.S. or India, where it was among dozens of Chinese apps banned in June, but TikTok’s team in the Beijing office has a significantly smaller workload than before, some employees said.
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Contact reporter Denise Jia (huijuanjia@caixin.com) and editor Marcus Ryder (marcusryder@caixin.com)


